Kazakhstan’s lawmakers won’t be taxing cryptocurrency mining until the mined crypto is exchanged for fiat money. According to a legislative analyst at a local blockchain association, cryptocurrency mining will not be treated as entrepreneurial activity but rather a “purely technological progress,” local business publication Kursiv reports Dec. 4.
Madi Saken, legislative analyst at the National Association for the Development of the Blockchain and the Industry of Data Centers of the Republic of Kazakhstan (NABDC), reportedly announced the news at a local blockchain event “Blockchain Day” on Dec. 4, news which Saken has confirmed in an email to Cointelegraph.